Can't read this article but read about both WM and TGT and neither of them stated what you're saying, in fact both are forecasting that revenue will grow. They both missed on earnings and mentioned increased expenses as the cause.
“Analysts said the weaker results showed that consumers were beginning to curtail spending amid higher prices. “Underlying volumes are looking really soft,” said Neil Saunders, managing director of research firm GlobalData Retail. “This is the beginning of a consumer pullback.”
“Many large companies, including retailers, have been able to increase profits during the Covid-19 pandemic even while facing rising costs for shipping and staffing. Passing along price increases to customers while cutting expenses has been a common path to raising profit margins, but the latest results suggest there might be limits to that strategy amid current economic conditions.”
“Americans continued to spend briskly in April on products as diverse as cars and clothing, which economists and company executives say is a sign that consumer spending is relatively healthy. But consumers are also showing signs they are less willing to absorb price increases and are trading down to less-expensive items, according to retailers and manufacturers.“
There’s a link in the article to a related piece:
https://www.wsj.com/articles/americans-are-showing-inflation-fatigue-and-some-companies-see-a-breaking-point-11651410002?mod=article_inline
